TALLAHASSEE, FL—The Victoria Grand, a 320-unit multifamily complex in Tallahassee's affluent Northeast submarket, has traded hands. The asset sold for $42.24 million.

The Jacksonville office of ARA brokered the sale. The ARA Central and North Florida-based sales team, led by senior vice president, Matt Wilcox and principals Kevin Judd and Patrick Dufour, represented Raia Properties Corporation.

“Victoria Grand is a class AAA asset in a strong secondary Florida Market,” says Wilcox. “Tallahassee exhibits all the base strengths of major MSAs across Florida. The diverse employment base is comprised of state government, three major universities and regional medical centers serving all of Northwest Florida and Southern Georgia.”